On the other hand, in May this year, the World Bank published a research report on the future pension income and expenditure gap in China, pointing out that under certain assumptions, according to the current institutional model, the income and expenditure gap of the basic old-age insurance in China will be as high as 9 15 trillion yuan from 20065438 to 2075.
However, the problem of population aging is not unique to China. It has troubled many countries in the world. For example, Xiang Huaicheng said that the current birth rate is only 1.28, while the normal birth rate should reach 2.08; The Bush administration of the United States included social security reform in its term plan, which was called the "big test" of the Bush administration. The German government is also studying raising the retirement age, otherwise only 54.3% of the people in Germany will still be at working age by 2050. "However, the social security problem in China has its special national conditions."
China's old-age security system is not perfect, the coverage of social old-age insurance is narrow and the historical burden is heavy. The basic old-age insurance mainly covers employees of urban state-owned enterprises and collective enterprises, and the coverage is less than half of the world average. The rural population, which accounts for 60% of the national population, has no social pension system, and the elderly mainly rely on land and children.
However, some measures taken by other countries to deal with population aging are not suitable for China's national conditions. For example, delaying retirement age and reducing pension benefits are not feasible in reality. To this end, what we can do is, on the one hand, increase the scale of central subsidies and increase the intensity of collection, on the other hand, establish long-term strategic reserves. "I hope that the social security fund will not take 5 years, 10 years, or even 20 years, and be well managed." Xiang Huaicheng said.